Third-Party Administration Services

Our proactive, consultative approach to retirement plan compliance and design can help simplify many of the administrative burdens and complexities associated with maintaining a qualified retirement plan, thus allowing employers to focus on running their business, while ensuring that the plan contains the provisions necessary to meet their goals and objectives.

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Plan Documentation and Design

The importance of plan design and compliance cannot be overstated. A poorly designed and maintained retirement plan can result in unnecessary costs, poor participation and engagement among employees, and limited savings opportunity for owners and executives.

In today's constantly changing regulatory environment, we believe that the plan design process should not end following initial implementation. We take a proactive, informative approach to advising plan sponsors of new or enhanced options and features that become available through regulatory updates or changes in demographics. In addition, we offer an annual review of plan provisions to ensure that the employer's internal administration processes are consistent with existing provisions.

Compliance Testing

Our consultative approach to compliance testing helps employers not only satisfy the plethora of annual testing requirements, but also to understand the results. Our annual administration package includes the delivery and interpretation of the following tests as needed:

  • Internal Revenue Code (IRC) Section
  • 410(b) Coverage Testing
  • Average Deferral Percentage (ADP)
  • Average Contribution Percentage (ACP) Testing
  • Top-Heavy Testing
  • Annual Additions Testing
  • General Nondiscrimination Testing
  • Benefits, Rights, and Features Testing

In addition to performing these tests, our compliance services include, but may not be limited to, the calculation or confirmation of employer contribution, forfeiture account analysis, eligibility review, and identification and calculation of required minimum distributions (RMDs).

Reporting and Required Notifications

The design, demographics, and financial activity throughout the year may require a plan to satisfy a number of different reporting and disclosure requirements on an annual basis. Our team of experts monitor those details and proactively assist with satisfying each of the following filing and notification responsibilities as needed:

  • Form 5500, Annual Return/Report of Employee Benefit Plan
  • Form 8955-SSA, Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits
  • Summary Annual Report for Employees
  • Form(s) 1099-R, Distribution from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, Etc...
  • Form 1096, Annual Summary & Transmittal of U.S. Information Returns
  • Form 945, Annual Return of Withheld Federal Income Tax
  • Form 5330, Return of Excise Taxes Related to Employee Benefit Plan
  • Safe Harbor Notice to Employees
  • Automatic Enrollment Notice to Employees
  • Qualified Default Investment Alternative Notice to Employees
  • Summary Plan Description (SPD)

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